Needham & Company LLC restated their buy rating on shares of Cypress Semiconductor Corporation (NASDAQ:CY) in a research report report published on Monday. They currently have a $20.00 target price on the semiconductor company’s stock.
CY has been the subject of several other reports. Craig Hallum increased their price target on Cypress Semiconductor Corporation from $17.00 to $20.00 and gave the stock a buy rating in a report on Friday, July 28th. Mizuho restated a buy rating and issued a $17.00 price target on shares of Cypress Semiconductor Corporation in a report on Tuesday, August 29th. BidaskClub upgraded Cypress Semiconductor Corporation from a hold rating to a buy rating in a report on Thursday, September 21st. KeyCorp restated an overweight rating on shares of Cypress Semiconductor Corporation in a report on Thursday, September 14th. Finally, Loop Capital restated a buy rating and issued a $17.00 price target on shares of Cypress Semiconductor Corporation in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $17.09.
Cypress Semiconductor Corporation (NASDAQ:CY) opened at 15.88 on Monday. The stock’s market cap is $5.28 billion. Cypress Semiconductor Corporation has a 52 week low of $9.63 and a 52 week high of $16.11. The company has a 50-day moving average price of $14.44 and a 200-day moving average price of $13.93.
Cypress Semiconductor Corporation (NASDAQ:CY) last announced its quarterly earnings results on Thursday, July 27th. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.05. Cypress Semiconductor Corporation had a positive return on equity of 6.27% and a negative net margin of 6.04%. The company had revenue of $593.80 million during the quarter, compared to the consensus estimate of $546.82 million. During the same period in the prior year, the company earned $0.13 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts anticipate that Cypress Semiconductor Corporation will post $0.80 earnings per share for the current year.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by BBNS and is the sole property of of BBNS. If you are reading this piece of content on another website, it was copied illegally and reposted in violation of US and international trademark and copyright legislation. The original version of this piece of content can be read at https://baseballnewssource.com/markets/cypress-semiconductor-corporations-cy-buy-rating-reaffirmed-at-needham-company-llc/1704544.html.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Thursday, September 28th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, September 27th. This represents a $0.44 annualized dividend and a yield of 2.79%. Cypress Semiconductor Corporation’s dividend payout ratio (DPR) is presently -110.00%.
In other news, Director Michael S. Wishart sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $14.07, for a total value of $422,100.00. Following the completion of the sale, the director now directly owns 65,256 shares of the company’s stock, valued at $918,151.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Camillo Martino acquired 10,000 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was acquired at an average cost of $12.92 per share, with a total value of $129,200.00. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at $258,400. The disclosure for this purchase can be found here. Insiders have purchased 60,000 shares of company stock valued at $834,100 over the last three months. Insiders own 0.69% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ffcm LLC lifted its position in shares of Cypress Semiconductor Corporation by 139.2% in the second quarter. Ffcm LLC now owns 8,145 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 4,740 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Cypress Semiconductor Corporation by 13.3% during the second quarter. IFP Advisors Inc now owns 8,628 shares of the semiconductor company’s stock worth $118,000 after purchasing an additional 1,014 shares during the period. ClariVest Asset Management LLC increased its stake in shares of Cypress Semiconductor Corporation by 101.7% during the first quarter. ClariVest Asset Management LLC now owns 9,121 shares of the semiconductor company’s stock worth $126,000 after purchasing an additional 4,600 shares during the period. Nordea Investment Management AB increased its stake in shares of Cypress Semiconductor Corporation by 101.7% during the first quarter. Nordea Investment Management AB now owns 9,121 shares of the semiconductor company’s stock worth $126,000 after purchasing an additional 4,600 shares during the period. Finally, Independence Advisors LLC bought a new position in shares of Cypress Semiconductor Corporation during the second quarter worth approximately $506,000. 97.06% of the stock is owned by institutional investors.
About Cypress Semiconductor Corporation
Cypress Semiconductor Corporation manufactures embedded system solutions for automotive, industrial, home automation and appliances, consumer electronics and medical products. The Company’s segments include Microcontroller and Connectivity Division (MCD), and Memory Products Division (MPD). MCD focuses on microcontroller (MCU), analog and wireless and wired connectivity solutions.
Receive News & Ratings for Cypress Semiconductor Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cypress Semiconductor Corporation and related companies with our FREE daily email newsletter.